1. The trope of the 'Depraved Homosexual' has a long established history in pop culture and cinema. Anal beads as the choice for cheating would fall, comfortably, into that trope. [https://tvtropes.org/pmwiki/pmwiki.php/Main/DepravedHomosexu...]
2. Chess is full of VERY smart people. One of the most common ways to insult a smart person is to call into question their sexuality; hence why we have to have entire movements related to calling out anti-lgbtq+ statements like "that's so gay". [https://welcomingschools.org/resources/stop-thats-so-gay-ant...]
Anyway, combine those two things, and you get your answer. It's because the world hasn't really evolved at all in the last 30-40 years, outside of what we have been forced to do by law. It's easy and socially acceptable to call a man gay as an insult, so in a roundabout way, that's what we're getting with the anal beads talk.
I sort of laser focused on this last week when I heard this theory for the first time. It just struck me as so. . . odd. Why would that be a thing? That's what I came up with.